Essel looks for investors to buy out MF biz as Seri deal hits roadblock

Essel Finance, the financial arm of the debt-laden Essel group, is looking for other potential investors to buy out its mutual fund (MF) business as talks with Srei have hit a wall.

According to people privy to the development, discussions between the parties have stalled owing to weak market conditions, and mismatch in valuations. The deal could still go through if Essel and Srei are able to come to a consensus, said the people. “We have made an offer that is commensurate with the market price. We are waiting to hear back from Essel,” said a Srei spokesperson. At the